RE: Buy rating31 Jul 2017 12:53
Volspruit Platinum Exploration
The Company is pleased to announce that it received notification from the DMR that the Mining Right ("MR") to mine PGM's, gold, copper, nickel and chrome was granted on 28 June 2017. Sylvania will now take steps to execute and register the right at the Mining Titles Office.
Grasvally Chrome Exploration
The Company received communication from the DMR that the appeal against the granting of the EA, lodged by interested and affected parties ("I&AP's") was set aside on 20 June 2017. Accordingly the EA for processing the waste rock dumps stands but activities cannot yet commence until such time as the approval of the WUL from the Department of Water and Sanitation ("DWS") is received and a MR is granted.
This is pretty positive stuff .. suggests that Phoenix processing will add to bottom line with additional feeds from local mines ... growth will likely be rapid going forward ... question is whether a placing for more shares and more capital will be needed.